The Top 5 Most Expensive Artworks Sold in 2020
The art market is alive and well even during a pandemic
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Today, we will take a look at the five most expensive works of art traded in the 2020 art auction market. During the pandemic, it seemed like the art market would slow down. However, auction companies around the world have adapted their auction systems for this new era. Famous artwork is still fetching a high price at auctions. Let’s take a look at some of the most expensive sales in 2020.
The Top 5 Most Expensive Artworks Sold in 2020
5. Ren Renfa, “Five Drunken Princes Returning on Horseback” (late 13th/early 14th century)
Ren Renpa was a Yuan official and famous painter. His painting, “Five Drunk Princes Carried Back on Horse,” was initially appraised at USD 10 million to USD 15.5 million, but was finally sold for USD 39 million (KRW 48.1 billion). One of the five princes in the work is Emperor Xuanzong (aka Li Longji), who would later become the sixth emperor of the Tang Dynasty.
4. David Hockney, “Nichols Canyon” (1980)
This work is a picture of Nichols Canyon Road near David Hockney’s old California house. In fact, this was his daily commute to his studio below Santa Monica Boulevard. Sold from Seattle’s real estate developer Richard Hedlin’s collection, the work was initially expected to sell for USD 35 million, but was actually sold for a whopping USD 41 million.
3. Roy Lichtenstein, “Nude with Joyous Painting” (1994)
Christie, a world-class auction company, drew attention by introducing a new type of online auction. Collectors from all over the world were able to participate and make bids. Auctioneers in Hong Kong, New York, London, and Paris passed the gavel in, what they called, a global relay sale. The hottest work among them was “Nude with Joyous Painting” by Roy Lichtenstein, a pioneer in American pop art. This work was sold for USD 46 million, and was one of the last nudes Liechtenstein was able to complete before his death.
2. Wu Bin, “Ten Views of Lingbi Rock” (1610)
This rare Ming Dynasty hand scroll was sold for USD 75 million, which broke the world record price for ancient Chinese calligraphy and paintings. It also became the most valuable ancient artwork sold at auction in Asia in 2020.
1. Francis Bacon, “Triptych Inspired by the Oresteia of Aeschylus” (1981)
Francis Bacon’s work was inspired by the sensations he felt while reading Aeschylus’s trilogy of ancient Greek tragedies, the Oresteia. There was a dramatic, ten-minute bidding war for the painting before it was ultimately sold for about USD 73 million at Sotheby’s Live auction.
It is exciting to see that the art world is alive and well despite the pandemic. Even though it has been difficult to host art auctions in person, international galleries have found a way to connect collectors with precious works of art. ARTIC is excited to help facilitate this transition to digital art as well. Stay tuned!
